Daily Sources 7/12

SOUTH KOREA RAISES BENCHMARK INTEREST RATE BY .25%

William Sim and Shinhye Kang at Bloomberg report that South Korea's central bank on Friday raised its benchmark interest rate by .25% to 2.25%. GDP is expected to grow by 5.9%, up from previous estimates of 5.2%. Exports are expected to rise by 26.4%. Consumer price inflation is expected to hit 2.8% this year and 3.4% in 2011. Guess they're not worried about a double dip in the recession.

INDIA ENDS FUEL SUBSIDIES, PROTESTS IMMEDIATELY ERUPT

Chris Stanton at the National reports that India has ended its subsidies on gasoline and substantially reducing them for diesel. Large protests immediately erupt.

IS YEMEN THE NEXT AFGHANISTAN?

Robert F. Worth at the New York Times Magazine asks whether Yemen is the next Afghanistan.

UGANDA HIT BY TERRORIST BOMBINGS

Josh Kron at the New York Times writes that at least 64 people were killed in three bombings in Uganda. The main suspect is Al-Shabaab. Uganda has ties with the transitional government in Somalia.